Isthmus Partners LLC Cuts Stock Holdings in Global Industrial Company $GIC

Isthmus Partners LLC reduced its stake in Global Industrial Company (NYSE:GIC) by 59.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,042 shares of the company’s stock after selling 51,340 shares during the period. Isthmus Partners LLC’s holdings in Global Industrial were worth $946,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GIC. Teacher Retirement System of Texas increased its holdings in Global Industrial by 3.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 13,938 shares of the company’s stock worth $376,000 after purchasing an additional 511 shares during the period. Quantbot Technologies LP grew its position in shares of Global Industrial by 25.8% during the first quarter. Quantbot Technologies LP now owns 4,548 shares of the company’s stock worth $102,000 after buying an additional 934 shares in the last quarter. CWM LLC grew its position in shares of Global Industrial by 187.7% during the first quarter. CWM LLC now owns 1,614 shares of the company’s stock worth $36,000 after buying an additional 1,053 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Global Industrial by 16.3% during the second quarter. Russell Investments Group Ltd. now owns 7,972 shares of the company’s stock worth $215,000 after buying an additional 1,120 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in Global Industrial by 3.6% in the first quarter. Hsbc Holdings PLC now owns 33,871 shares of the company’s stock valued at $764,000 after acquiring an additional 1,191 shares in the last quarter. 31.19% of the stock is owned by institutional investors and hedge funds.

Global Industrial Trading Down 1.4%

Shares of Global Industrial stock opened at $28.25 on Tuesday. The company has a fifty day simple moving average of $31.58 and a 200-day simple moving average of $31.19. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 0.92 and a beta of 0.93. Global Industrial Company has a 12-month low of $20.79 and a 12-month high of $38.79.

Global Industrial (NYSE:GIC) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.10). Global Industrial had a return on equity of 22.85% and a net margin of 5.11%.The company had revenue of $353.60 million for the quarter, compared to analyst estimates of $357.00 million. On average, analysts forecast that Global Industrial Company will post 1.59 earnings per share for the current fiscal year.

Global Industrial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 10th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Monday, November 10th. Global Industrial’s dividend payout ratio (DPR) is currently 59.43%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GIC shares. Weiss Ratings reissued a “hold (c)” rating on shares of Global Industrial in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Global Industrial from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Zacks Research cut Global Industrial from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 30th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Global Industrial currently has an average rating of “Reduce”.

Global Industrial Company Profile

Global Industrial Company operates as an industrial distributor of various industrial and maintenance, repair, and operation (MRO) products in North America. It offers storage and shelving, safety and security, carts and trucks, HVAC and fans, furniture and decor, material handling, janitorial and facility maintenance, workbenches and shop desks, tools and instruments, plumbing and pumps, office and school supplies, packaging and shipping, lighting and electrical, foodservice and retail, medical and laboratory, motors and power transmission, building supplies, machining, fasteners and hardware, vehicle maintenance, and raw materials.